White House Office of Intergovernmental Affairs Local Update
Welcome to the White House Office of Intergovernmental Affairs local update. In this week's issue President Obama signs a bill to provide transportation funding and keep student loan interest rates low, the First Lady announces Let's Move! Olympic Fun Day, and the Obama Administration announces initiatives to help small businesses create jobs.
President Obama Signs the Transportation and Student Loan Bill
"President Barack Obama signs HR 4348, the Transportation and Student Loan Interest Rate bill during a ceremony in the East Room of the White House. July 6, 2012. (Official White House Photo by Lawrence Jackson) "
This transportation bill, Moving Ahead for Progress in the 21st Century (MAP-21 [ http://www.dot.gov/affairs/2012/dot7512.html
]), will sustain the Highway Trust Fund and provide states and communities with two years of steady funding to build needed roads, bridges, and transit systems. It also builds on the Department of Transportation's efforts to improve safety across all forms of transportation and to make progress on transportation alternatives.
**Avondale, Arizona* Mayor Marie Lopez Rogers *attended the bill signing and explained, “This legislation is important for ensuring jobs for our residents and opportunities for young people to pursue higher education. The two-year bill also provides a measure of certainty for transportation planning organizations that had not existed for the last three years."
Host a Let's Move! Olympic Fun Day in Your Community
"First Lady Michelle Obama delivers remarks during an event at American University in Washington, D.C., March 13, 2012. Samantha Cameron, wife of British Prime Minister David Cameron, left, joined the First Lady, Olympic and Paralympic athletes including Lisa Leslie, and Washington, D.C., area children in a mini-Olympics competition to celebrate the 2012 London Summer Olympics and the “Let’s Move!” initiative. (Official White House Photo by Sonya N. Hebert)"
First Lady Michelle Obama is leading the U.S. Delegation to the 2012 Olympic Games and she’s calling on communities around the country to support Team USA, not just by cheering on our athletes, but also by getting active.
Saturday, July 28th is the first day of the competition in London. We're calling on communities around the country to join us by participating in “Olympics-inspired” Meetups [ http://www.letsmove.gov/blog/2012/07/11/celebrate-summer-games-your-loca...
] in your towns or neighborhoods. The meetup can be a relay race in a local park, basketball tournament, hula hoop contest, tug-of-war competition or any activity that encourages communities to get active.
At your Let’s Move! Meetup, share photos and updates using the hashtag #LetsMoveDay. We’ll highlight activities happening across the country on LetsMove.gov, Twitter and Facebook.
Obama Administration Announces Initiatives to Help Small Businesses
The Obama Administration has worked over the past three years to enact 18 small business tax cuts and numerous measures to help more small businesses access the credit they need to invest, hire, and grow. This week, the Obama Administration announced additional initiatives [ http://www.whitehouse.gov/the-press-office/2012/07/11/obama-administrati...
] that build on this record of progress and will help our nation’s small businesses expand and create jobs. These initiatives include immediate executive actions that will accelerate Federal payments, reduce paperwork, and make it easier for small firms to access loans and tax credits.
* *Accelerate payments to small business subcontractors*: Through the Office of Management and Budget, the President will direct agencies to make contract payments along an accelerated timeline to all prime contractors for the next year with the understanding that those prime contractors will similarly accelerate payments to their small business subcontractors.
* *Increase access to capital through SBA’s Small Loan Advantage (SLA) 2.0:* SBA is re-launching Small Loan Advantage, one of its key small dollar loan products, as SLA 2.0. This revamped program raises the maximum loan amount from $250,000 to $350,000, streamlines the loan process, and makes it easier for lenders to extend loans to small businesses across America.
* *Reduce paperwork for SBA’s Disaster Loan Program: *Cutting the online application from 80 screens to three or four screens (depending on loan type) will allow families and businesses easier and quicker access to support for rebuilding after a disaster.
* *Align New Markets Tax Credit with the needs of investors in growing small firms:* The Obama Administration is working on a set of regulatory reforms to the existing New Markets Tax Credit that will make it easier for community development entities (CDEs) to attract private sector funds for investment in startups and small businesses operating in lower‐income communities.